PHOTO: The $300 million development was one of more than 400 identified as ‘high risk’. Source: News Corp Australia

Hundreds of apartment owners in an inner-city development have been told they may have to cough up $45,000 each in special levies to cover the estimated $12.5 million cost of removing and replacing 10,000 square metres of potentially deadly flammable cladding.

Residents of The Quay in Sydney’s Haymarket are mulling over whether to proceed with legal action in the Supreme Court of NSW against builder Parkview Constructions and Chinese developer Ausbao for a major defect claim.